This election year will be an important one as Washington State voters will have several new ballot measures to vote on in the November 2 general election. The measures include instigation of a new income tax, privatization of State liquor sales and another Tim Eyman initiative to require a 2/3rds supermajority for all tax increases in the future (Washington voters passed a similar initiative, I-960 on the November 6, 2007 statewide ballot with 51.24% of the vote which was later repealed by the state legislature, hence Eyman is bringing it back again).

A Gift to Future Generations: Our Debt

Taxes at the state and local levels need to be viewed in the context of our nation's federal spending habits. When the congress increases taxes or cuts services, the state and local governments feel the repercussions. As a nation, our deficit spending has gotten out of control. The current federal deficit for 2010 is over One Trillion Dollars and the national debt is over $13 Trillion. That's equivalent to more than $100,000 per U.S. household. This money must be paid back someday along with crushing interest payments. Our legacy to our children and grandchildren will be the burden of our budgetary mismanagement.

In this context, the combined taxing and spending decisions made at every level of government come home to roost. Ultimately, our ability to pay for the services we need today will be hindered by the interest payments on the debt we accrued long ago.

Washington State Initiatives

Below is a list of Washington State ballot measures which will be voted on in the November 2 general election as provided by Ballotpedia. It will be interesting to see how the electorate votes on the various tax measures in this off-year election. Will we reaffirm our 2007 vote to reign in Olympia by once again requiring a 2/3rds supermajority to raise taxes? Or will we choose to institute an income tax for the first time in Washington State history?